An auditor used sampling that has the statistical simplicity of attribute sampling yet provides a statistical result expressed in dollars.The auditor is using what type of sampling?
A)attribute sampling
B)discovery sampling
C)monetary unit sampling
D)variable estimation sampling

Question

Quizplus · Accepted Answer

Monetary unit sampling (MUS) is a statistical sampling technique that involves selecting a dollar amount from a population of financial transactions, rather than selecting individual items as in attribute sampling. MUS combines the benefits of statistical sampling with the simplicity of attribute sampling to provide a statistical estimate of errors in the financial statements expressed in dollars. This makes it a suitable method for auditors who want to focus on materiality and obtain results that are easy to interpret and communicate to management. The other options (A, B, and D) do not fit the description of the sampling method used by the auditor.

An Auditor Used Sampling That Has the Statistical Simplicity of Attribute